Ellevest Inc. Purchases 1,709 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ellevest Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,947 shares of the network equipment provider’s stock after acquiring an additional 1,709 shares during the period. Ellevest Inc.’s holdings in Cisco Systems were worth $411,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems during the 4th quarter valued at $31,000. Finally, Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler reduced their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Citigroup reduced their price target on Cisco Systems from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.05.

Cisco Systems Trading Up 0.1 %

Shares of NASDAQ:CSCO opened at $59.77 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock’s fifty day moving average price is $58.78 and its 200-day moving average price is $59.43. The company has a market cap of $237.78 billion, a P/E ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.74%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.